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Just got served a summons and its Saturday!!!!

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Just got served on a Saturday here at home from a company called Tri-Cap Investment Partners, LLC. It seems like they purchased all of our credit cards (Bank One, Chase, JC Penney, etc) and want us to pay. We filed for bankruptcy in 2005 and it was dismissed 6 months later because we made too much money at the time.
After that, we neglected to pay our bills because my husband lost his job, I was out of work for a couple of months because of sickness and tried to pay the important bills (mortgage, utilities, cars) with the money we were receiving.
We have 30 days to respond to this summons. What should we do about it? Are they or can they garnish our wages?
We are really worried about this.
Any suggestions are welcomed.
Thanks.




Oops, I forgot to mention that I am in Florida.

Sub: #11 posted on Sun, 02/25/2007 - 05:19

lrhall41 lrhall41

(Posts: 245 | Credits: )

I called them as soon as i got the summons, it is worth a shot, call them and see if you can handle this out of court. They should talk to you, mine did.

Sub: #12 posted on Sun, 02/25/2007 - 06:57

fedupinpa fedupinpa

(Posts: 1511 | Credits: )

I will give them a call tomorrow (Monday). Thanks.

Sub: #13 posted on Sun, 02/25/2007 - 08:17

lrhall41 lrhall41

(Posts: 245 | Credits: )

What state do you live in???Some states(5) have NON-garnment laws.I know here in SC if only one person is working in the family the Judge would rule your "Judgement proof".

Sub: #14 posted on Sun, 02/25/2007 - 11:38

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Here is garnishment and judgement information in Florida.

Quote from webpage:
Following is some important information on Florida state debt recovery laws including: Florida Statutes, Florida Judgments, Florida Garnishments, Florida Interest Rates, and Florida Bad Check Laws.


------------------------------------------------------------------------ --------

Quote:
STATE: FLORIDA

Interest Rate

Legal: 10%
Judgment: 10% or up to 18% if contractual
STATUTE OF LIMITATIONS (IN YEARS)

Open Account: 4
Written Contract: 5
Domestic Judgment: 7 Renewable
Foreign Judgment: 5 if not recorded instate
BAD CHECK LAWS (CIVIL PENALTY)
After 30 day demand-treble amount in addition to amount owed, bank & court costs & reasonable attorney fees.

GENERAL GARNISHMENT EXEMPTIONS
See federal law; except 100% head of household.

You should be able to find more detailed information on florida's attorney general website, or call the office and ask what you need to know. They are very helpful to consumers. Hope this helps.

Sub: #15 posted on Sun, 02/25/2007 - 12:06

fedupinpa fedupinpa

(Posts: 1511 | Credits: )

Thanks for the info. I will check the AG site.

Sub: #16 posted on Sun, 02/25/2007 - 13:41

lrhall41 lrhall41

(Posts: 245 | Credits: )

But what does that 10% mean. 10% of what they say we owe, is that what we pay? I am confused. Sorry I am not getting it. I am having bad allergies today and took a Beadryl and have been sleeping this afternoon.

Sub: #17 posted on Sun, 02/25/2007 - 13:43

lrhall41 lrhall41

(Posts: 245 | Credits: )

The interest rate is the annual interest rate for the judgment amount.Its basically the same thing as paying interest on a credit card or loan.

Sub: #18 posted on Sun, 02/25/2007 - 21:35

taksmom476 taksmom476

(Posts: 80 | Credits: )

10% is an annual rate. Usually judgments accrue simple (daily) interest. To calculate the daily rate you take APR/365 (10%/365) = .0274% per day. Any day that you have an open balance, multiply the daily rate times that balance ($20k X .0274% = $5.48/day). Your account will be earning about $5.48/day interest. As you make payments, and the balance goes down, the daily interest will go down too.

Sub: #19 posted on Mon, 02/26/2007 - 03:01

DebtCruncher DebtCruncher
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(Posts: 2296 | Credits: )

If your the only one working then you are "head of house hold".I do not think they can garnish your wages.Bud-sc

Sub: #20 posted on Mon, 02/26/2007 - 12:51

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